"The stock has been yielding over 3 percent for some time now. That's half again or more than you can get from the market overall." GE's yield totaled 3.5 percent Friday. GE's businesses are "world-class," Peters says.

Chevron Corp.: While other companies such as ExxonMobil have been seeking to maximize cash flow and then devoting it to share buybacks or hoarding it, Chevron is putting its money back into operations, Peters says. "It has been really lucky with the drill bit. Now they have this vast opportunity to go out and develop."

Southern Co.: "Traditionally it has been really the go-to name in regulated utilities," Peters says. "It's very large with substantial operations in four states. Even more importantly, they've had terrific regulatory relations in those states. Regulators allow them to earn higher returns than most utilities get.